Do you get paid every two weeks? Once or twice a month? I don't know about you but it seems like feast or famine not receiving a deposit every week. I remember all too well making the transition from a weekly paycheck to one every other week. Week one = gas, groceries, out to dinner, bills and maybe a little pampering. Then, week two = pinching pennies, eating spaghetti and bagged lunches, and reminding myself that I will make it to the next pay day.
I was fortunate enough to receive awesome advice on.... (wait for it)....BUDGETING. You might be thinking, "Well, how much did that cost you?" It was free, and I’d like to share it with you (for free, of course):
· List your monthly bills and divide by two.
· Subtract that from your payroll to see what you have left for your day to day living.
· Put 1/2 of your remaining paycheck in your savings for next week.
It’s that easy! Writing this down on paper really allows you to see where your money is going. If you get paid monthly then just customize the plan and make it a point to put enough funds in your savings to get through the month.
As with all plans, you have to make it fit your life. It is not one size fits all. If you need a little help budgeting, check out Personal Financial Manager (PFM) in your Online Banking Account. Learn more about it here: http://player.vimeo.com/video/46706934